On 1 March, Humm Group revealed plans to engage investors regarding an auto and equipment asset-backed securities (ABS) deal from its flexicommercial programme. National Australia Bank and Westpac Institutional Bank are leading.
The Reserve Bank of New Zealand (RBNZ) has embarked on an asset purchasing programme as part of its regular open market operations in support of monetary policy goals. KangaNews will provide subscribers with easy access to asset purchase data, which will be updated as information is made publicly available by the RBNZ.
On 1 March, Aurizon Finance, the financing entity of Aurizon Operations (BBB+/Baa1), began taking indications of interest for a potential Australian dollar denominated, seven-year transaction. The deal is being marketed at 190 basis points area over semi-quarterly swap. MUFG Securities, National Australia Bank, SMBC Nikko are leading.
Australian deal flow continued strongly in the last week of February despite rates market turbulence. A fistful of financial institutions executed transactions in various formats, with other highlights including prints from Charter Hall LWR and Western Australian Treasury Corporation.
The Reserve Bank of Australia (RBA) has embarked on an asset purchasing programme as part of its regular open market operations in support of monetary policy goals. KangaNews will provide subscribers with easy access to asset purchase data, which will be updated as the RBA makes information publicly available.
The KangaNews Market People of the Year are the individuals who voters in the KangaNews Awards 2020 believe went above and beyond their roles to contribute to the development of the Australian and New Zealand debt markets. There are no restrictions on the firms, positions or seniority of winners – voters are simply asked to consider who contributed most to the market in either or both 2020 specifically or across the span of a career.
Australian fund managers, strategists and traders remain sceptical of the apparent rationale behind a bond sell-off that has seen local long-end yield spike after creeping higher in previous months. The price move appears to reflect greater inflation expectations and an interest rate hike before the Reserve Bank Australia’s forecast of 2024, but there is some evidence that it is not being backed by substantial repositioning activity.
On 25 February, New South Wales Treasury Corporation (TCorp) revised down its total funding task for financial year 2020/21 by A$6.25 billion (US$5 billion) to A$29.55 billion, following the release of the New South Wales (NSW) state government’s half-yearly review.